10 More Ways (4)
- Conduct training programs at events
- Conduct a partner program
- Conduct corporate training programs
- Consulting to your niche market
- Consulting to other speakers
- Coaching / mentoring to your niche market
- Coaching / mentoring other speakers
- Create a not-for-profit association
- Create a for-profit association
Let’s get back to speaking. Another way to make some money as a speaker is to be a Master of Ceremonies (or M/C or emcee) for an event like an awards banquet. This is a special skill because you must alternate between having the spotlight on you, the emcee, and the people who are being honored at the event.
Sometimes you can emcee at a conference in addition to keynoting or offering a training program. So emceeing alone can be a nice income source, or you can use it to supplement your other activities.
We’ve mentioned training a number of times without specifically recognizing it as a way of making money. Many event organizers want to provide ‘benefit’ to their attendees, so they like to provide training programs. Offering training to the attendees of an event can be a lucrative income source for speakers of all types.
Everything at an event doesn’t have to be educational. At many events, partners and spouses accompany the attendees. They may not want to attend the same meetings as their partners, but they also want to be entertained and/or educated. Conducting partner programs at events is a good income source.
Although some larger corporations prefer to do their employee training in-house, their HR department may not be up to the task. Going into a corporation and training their employees is an excellent way of making some nice money.
It’s almost a given — speakers can also be consultants in their niche industries. (The exception might be entertainers and humorists.) After all, you’re the expert. If you know enough to speak to them, you know enough to consult for them.
Of course, speakers are not only experts on their niche topic, but they’re also experts on the profession of speaking. So if you’re especially good at one aspect of your job, you should consider consulting for other speakers to help them in their jobs.
Being a coach or mentor is not the same thing as being a consultant. Not every target market lends itself to coaching or mentoring, but if your niche market does, you should certainly consider it as a source of alternate income.
Of course, that applies to the speaking industry as well. Coaching (especially in platform skills, although you may be able to provide coaching in other skills too) is eagerly sought-after by speakers who want to hone their skills.
Speakers who are involved with helping people (in other words, just about every speaker) may want to consider starting a not-for-profit association. Being “not for profit” doesn’t mean that the organization doesn’t make money, it means that it can’t end up with a profit. One of the association’s costs can be compensation for you, the founder.
However, not-for-profit organizations get preferential tax treatment by the government, so the government demands a high degree of accountability from the organization. Consequently, you might want to consider….
Surprisingly, although many speakers think about creating a not-for-profit association, very few consider forming a for-profit association. The primary advantage of a for-profit organization is that there’s significantly less governmental oversight. The disadvantage of a for-profit organization is that donations to a for-profit organization are not tax-deductible, so you can’t count on making money through donations.
But if your organization doesn’t provide charitable work, but instead promotes a common interest, a for-profit structure may be the way to go. (Of course, check with your legal and financial advisers for advice and guidance before making any decisions of this sort.)